Lipper Leaders Key

Recent News

Dick's Sporting Goods Inc. said Thursday it will raise its quarterly dividend by 32% to 22.5 cents a share, from 17 cents a share. The new dividend will be payable on March 30 to shareholders of record on march 9. Based on Wednesday's stock closing price of $33.65, the new annual dividend rate of 90 cents a share, implies a dividend yield of 2.67%, compared with the payout yield for the SPDR S&P Retail ETF of 1.50% and the implied yield for the S&P 500 of 1.89%, according to FactSet. "The significant increase in our dividend demonstrates the strength of our balance sheet and the confidence we have in our company's future," said Dick's Chief Executive Edward Stack. The stock, which was little changed in premarket trade, has run up 25.3% over the past three months, while the retail ETF has climbed 14.8% and the S&P 500 has gained 5.2%.

Home Depot Inc. , Lowe's Cos. , Best Buy Co. Inc. and Dick's Sporting Goods Inc. are among the retailers poised to gain market share as Sears Holdings Corp. continues to surrender it, according to UBS. Appliances, apparel and what analysts call "soft home" are Sears' biggest product categories by sales. The struggling retailer is on the path to $16.1 billion in sales for fiscal 2017, down 70% from a peak level of about $53 billion in 2006, analysts wrote in a recent note. About $3.5 billion in Sears sales are major appliances. Home Depot, Lowe's and Best Buy could capture about 75% of that thanks to their own merchandise assortments and their distance from a Sears store. About 80% of Sears locations are within 15 minutes of these other retailers. "While some of the appliance sales could leak to Amazon.com Inc. since it now carries Kenmore products, we think physical stores will remain the dominant channel for this category," a UBS note said. Dick's Sporting Goods could snap up 25% of the estimated $400 million in sporting goods sales, an increase of about 150 basis points in same-store sales. Pier 1 Imports Inc. and Williams-Sonoma Inc. could also see a basis-point lift from furniture sales. Since the beginning of 2018, Sears has announced new financing measures along with more than 100 additional store closures, including Kmart. Sears shares are down more than 70% for the past year while the SPDR S&P Retail ETF is up 0.3% for the period and the S&P 500 index is up nearly 14%.

Barnes & Noble Inc. named on Monday Timothy Mantel as its chief merchandising officer, effective immediately. Mantel was previously the CMO of GNC Corp. . Mantel succeeds the bookseller's previous CMO Mary Amicucci, who left the company in September 2017 after 20 months in the role. Barnes & Noble's stock was down 1.0% in premarket trade. It has plunged 32% over the past three months, while the SPDR S&P Retail ETF has rallied 11% and the S&P 500 has gained 1.4%.

The National Retail Federation is forecasting a 3.8% to 4.4% increase in retail sales for 2018. The forecast includes online and other non-store sales, which are expected to grow 10% to 12%. "With consumer confidence high, unemployment low and wages growing, there is every reason to believe that retail sales will be robust throughout the year," said NRF Chief Executive Matthew Shay in a statement. The SPDR S&P Retail ETF is up 5.6% for the past year while the S&P 500 index is up 15.7% for the period and the Dow Jones Industrial Average climbed 24.1%.

Coach parent company Tapestry Inc. shares rose 5.2% in early Tuesday trading, leading a retail rebound after Tuesday's record-setting decline in the Dow Industrials. Urban Outfitters Inc. shares are up 4%, J.C. Penney Co. Inc. shares are up 3.6%, Abercrombie & Fitch Co. stock is up 1.3% and Nordstrom Inc. is up 2.3% shortly after the opening bell. Guess Inc. , which saw a sharp decline in shares late last week after model Kate Upton leveled allegations of misconduct against the company's co- founder, saw it shares rise 2.2% early. And Fossil Group Inc. shares surged 3.7% Tuesday. American Eagle Outfitters Inc. , Macy's Inc. , Michael Kors Holdings Ltd. and Kohl's Corp. are each up more than 1%. In sporting goods, Foot Locker Inc. and Dicks Sporting Goods Inc. are each up. The S&P 500 index is up 0.6% in Tuesday trading, the Dow Jones Industrial Average and the SPDR S&P Retail ETF is up 0.7% for the day so far.

Shares of Bed Bath & Beyond Inc. sank 3.9% in premarket trade Friday, after J.P. Morgan turned bearish on the home furnishings and consumer products retailer, citing concerns over the growth and margin outlook relative to peers. Analyst Christopher Horvers cut his rating to underweight from neutral, and his stock price target to $18, which is 22% below Thursday's closing price, from $21. He pointed out that Bed Bath & Beyond's same-store sales declined 0.3% last quarter, although November was arguably the best month of the year for retailers, and his research suggests trends have slowed for the current quarter despite upbeat outlooks from its peers. As a results, Horvers said further margin erosion "appears inevitable" as management doubles down on its price match guarantee, steps up coupon offers and accelerates advertising spend. Through Thursday, the stock had run up 20% since it closed at a 9-year low on Nov. 7, while the SPDR S&P Retail ETF has rallied 24% and the S&P 500 has climbed 9.6%.

Toy sales in the U.S. grew 1% in 2017 to $20.7 billion, according to the latest data by NPD Group. The U.S. is the world's largest toy market. Hatchimals and Pokémon were among the year's most popular toys. "The toy industry's 2017 success was tied to consumers positively reacting to social media driven trends and lower price points," said Frédérique Tutt, NPD's global toys industry analyst. "The fidget spinner and slime crazes illustrated social media's influence in amplifying the hottest trends and bringing them to consumers all around the world simultaneously." Globally, toy sales also grew by 1% as well. Star Wars and Nerf were the top two toy properties around the globe. The SPDR S&P Retail ETF is up 10.5% for the past year while the S&P 500 index is up 23.5% for the period.

Toys "R" Us will close up to 182 stores as part of its plan to emerge from Chapter 11 bankruptcy, according to The Wall Street Journal, citing a late-Tuesday court filing. The closures amount to about 20% of its stores, and are scheduled to begin next month with the majority of stores closing mid-April. The decision about whether to close all of the stores will depend on landlord negotiations, and whether they can strike a better deal on lease terms and rent reductions. A number of locations will be converted into co-branded Toys R Us and Babies R Us stores. Last month, Toys "R" Us reported a disappointing holiday quarter, as revenue fell 7.5% and same-store sales dropped 7%. The SPDR S&P Retail ETF is up 12% for the past year while the S&P 500 index is up 24.5% for the period.

Shares of GNC Holdings Inc. soared 22% in premarket trade Thursday, after the health and performance products retailer provided a fourth-quarter profit outlook that was above expectations. The company said same-store sales of its U.S. company-owned stores rose 5.7% from a year ago. As a result, it expects adjusted earnings per share, which excludes non-recurring items, of 24 cents to 25 cents, above the FactSet consensus of 23 cents. The company affirmed its 2017 free cash flow estimate of $190 million to $210 million, and said it ended 2017 with cash and cash equivalents of $64 million and long-term debt of $1.3 billion. The company had announced in December that it had hired Goldman Sachs to evaluate alternatives. The company said Thursday that it did not plan to provide preliminary financhial information in the future other than "unique circumstances," or unless there is a "material event." The stock has plunged 57.3% over the past three months through Thursday, while the SPDR S&P Retail ETF has run up 17.4% and the S&P 500 has gained 9.4%.

True to 2018 form, U.S. stocks are firmly higher early Friday, rising after a strong batch of quarterly earnings reports. In the process, each widely-tracked U.S. benchmark has extended its rally to record territory, building on an already statistically unusual technical breakout.

Retail sales during the holiday season rose 5.5% in 2017 to $691.9 billion, exceeding the National Retail Federations forecast of a 3.6%-to-4% increase. The final total represents "the strongest gain since the Great Recession," the group said Friday. The organization credits low unemployment, strong consumer confidence, a rising stock market and income raises for the showing. There were increases across all retail categories except sporting goods, which was down 0.5% year-over year. Building materials and supplies stores were up 8.1%, furniture and home furnishings grew 7.5% and electronics and appliance stores were up 6.7%. The SPDR S&P Retail ETF is up 20.1% for the last three months, outpacing the S&P 500 index, which is up nearly 9%, and the Dow Jones Industrial Average , which is up 12%.

Shares of Signet Jewelers Ltd. sank 5.6% in premarket trade Wednesday, after the diamond jewelry retailer reported holiday-period sales that fell from a year ago. Total sales for the nine weeks ending Dec. 30 declined 3.1% to $1.88 billion, while same-store sales dropped 5.3%. That compares with prior-year declines of 5.1% in total sales to $1.94 billion and 4.6% in same store sales. The company said the latest sales performance were hurt by the credit outsourcing transition. Signet said its e-commerce business grew by a "double-digit" percentage, while Zales Jewelers same-store sales increased 4.6%. The company affirmed its fiscal 2018 same-store sales outlook of down in the mid single-digit percentage range, but raised its earnings-per-share outlook to $6.45 to $6.50 from $6.10 to $6.50 to reflect an expected lower tax rate after the tax reform legislation. The stock has tumbled 14.8% over the past three months through Tuesday, while the SPDR S&P Retail ETF has run up 11.8% and the S&P 500 has climbed 7.9%.

U.S. stocks climbed to fresh records Monday, pushing the Nasdaq Composite above 7000 for the first time in intraday trading, as investors extended bets on lawmakers pushing through a major tax overhaul.

ETF Details

Category

Consumer Services

Portfolio Style

Consumer Services

Fund Status

Open

Fund Inception

June 19, 2006

Managers

Feehily

Schneider

Janowsky

Investment Policy

The Fund seeks to replicate the performance of an index derived from the retail segment of a U.S. total market composite index. The Fund uses a passive management strategy designed to track the total return performance of the S&P Retail Select Industry Index.
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